Questions from Business Law

Q: Arthur Odgers died, and his widow, Elizabeth Odgers (Elizabeth

Arthur Odgers died, and his widow, Elizabeth Odgers (Elizabeth Salsman by remarriage), retained Breslow as the attorney for her husband ’ s estate. She received a check payable to her drawn on First N...

Q: Ann Weldon maintained an account at Trust Company Bank. James Weldon

Ann Weldon maintained an account at Trust Company Bank. James Weldon, her son and a garment broker, purchased textile goods from Sportswear Services for resale to another corporation known as Thicket...

Q: In May 1989, Alma Equities Corp., owned by its sole

In May 1989, Alma Equities Corp., owned by its sole shareholder and president, Lewis Futterman, purchased a hotel and restaurant in Vail, Colorado, from Alien for $3,900,000. Alma paid $600,000 in cas...

Q: Donaldson sold plumbing supplies. The St. Paul- Mercury Indemnity

Donaldson sold plumbing supplies. The St. Paul- Mercury Indemnity Co., as surety for him, executed and delivered a bond to the state of California for the payment of all sales taxes. Donaldson failed...

Q: Christy Pontiac, a corporation, was indicted for theft by swindle

Christy Pontiac, a corporation, was indicted for theft by swindle and forgery involving a GM cash rebate program. Hesli, a middle-management employee of Christy Pontiac, had forged the cash rebate app...

Q: Aldrich and Co. sold goods to Donovan on credit. The

Aldrich and Co. sold goods to Donovan on credit. The amount owed grew steadily, and finally Aldrich refused to sell any more to Donovan unless Donovan signed a promissory note for the amount due. Dono...

Q: Paul owed Charles a $1,000 debt due September 1

Paul owed Charles a $1,000 debt due September 1. On August 15, George, for consideration, orally promised Charles to pay the debt if Paul did not. On September 1, Paul did not pay, so Charles demanded...

Q: First National Bank hired Longdon as a secretary and obtained a surety

First National Bank hired Longdon as a secretary and obtained a surety bond from Belton covering the bank against losses up to $100,000 resulting from Longdon ’ s improper conduct in the performance o...

Q: Industrial Mechanical had a contract with Free Flow Cooling, Ltd.,

Industrial Mechanical had a contract with Free Flow Cooling, Ltd., a British company. Free Flow owed Industrial $171,974.44 for work Industrial had per- formed on a construction project in Texas. Free...

Q: First Interstate Bank issued a letter of credit in favor of Comdata

First Interstate Bank issued a letter of credit in favor of Comdata Network. Comdata is engaged in money transfer services. It provides money to truckers on the road by way of cash advances through fo...